SGX Pharmaceuticals Provides Update on SGX523 Clinical Trials

Company Presents Today at BioCentury Future Leaders Conference

Mar 27, 2008, 01:00 ET from SGX Pharmaceuticals

    SAN DIEGO, March 27 /PRNewswire-FirstCall/ -- SGX Pharmaceuticals
 (Nasdaq:   SGXP) is providing an update today on the SGX523 clinical program.
     In January 2008, the Company initiated two parallel, multi-center Phase
 1 clinical trials of SGX523 in patients with solid tumor cancers. The first
 trial has been designed to examine twice daily, oral dosing on a continuous
 28-day cycle and the second trial has been designed to examine interrupted
 dosing (a repeating 21 day cycle of 14 days on therapy followed by 7 days
     In both trials, the Company observed dose limiting toxicity earlier
 than anticipated. The toxicity is of a nature that was not anticipated
 based on the preclinical profile of SGX523. The interrupted dosing trial
 started at a higher dose than the continuous dosing trial and no patients
 are currently receiving treatment on the interrupted dosing trial. In the
 continuous dosing trial, patients are continuing to be treated at a lower
 dose level, and the Company is evaluating the safety and efficacy of
 treatment at that dose level.
     "From the initial clinical data, the profile of SGX523 appears to be
 different than the preclinical data would suggest," said Mike Grey,
 president and chief executive officer of SGX Pharmaceuticals. "On the
 continuous dosing trial, patients continue on study at the initial dose and
 we may explore whether alternative doses and schedules are safe and
 efficacious. We continue the preclinical development of the BCR-ABL
 inhibitor SGX393 and the second MET inhibitor SGX126. In addition, we are
 targeting the identification of two development candidates this year from
 our drug discovery programs to further enhance our pipeline."
     Mr. Grey will be updating the investor community at 9:00 A.M. Eastern
 Daylight Time today at the BioCentury Future Leaders in the Biotech
 Industry Conference at the Millennium Broadway Hotel and Conference Center
 in New York City. A live webcast of the presentation will be available
 under the investor relations section of the Company's website at
     The Company filed its Form 10-K today and a copy can be found at
     About SGX Pharmaceuticals
     SGX Pharmaceuticals is a biotechnology company focused on the
 discovery, development and commercialization of innovative cancer
 therapeutics. The SGX oncology pipeline includes drug candidates from its
 FAST(TM) drug discovery platform, such as SGX523, a MET kinase inhibitor
 currently in Phase 1 clinical studies, next generation BCR-ABL inhibitors
 being developed by SGX and in partnership with Novartis and a portfolio of
 inhibitors of various oncology targets. More information on the pipeline
 and drug discovery platform can be found at and in the
 Company's various filings with the Securities and Exchange Commission.
     Forward Looking Statements
     Statements in this press release that are not strictly historical in
 nature are forward-looking statements. These statements include, but are
 not limited to, statements related to the Company's MET program, including
 the safety and efficacy profile and status of the clinical trials of
 SGX523, the advancement of the Company's drug development and discovery
 pipeline, the Company's ability to identify development candidates from its
 drug discovery programs and the potential of the Company's inhibitors as
 treatments for certain cancers. These statements are only predictions based
 on current information and expectations and involve a number of risks and
 uncertainties. Actual events or results may differ materially from those
 projected in any of such statements due to various factors, including the
 risks and uncertainties inherent in drug discovery, development and
 commercialization, which include, without limitation, the potential failure
 of development candidates to advance through preclinical studies or
 demonstrate safety and efficacy in clinical testing and the ability to file
 INDs or commence IND enabling activities or preclinical or clinical studies
 in the referenced time frames. The results of early preclinical studies or
 clinical trials may not be predictive of future results, and the Company
 cannot provide any assurances that any of its compounds or development
 candidates will have favorable results in preclinical studies or clinical
 trials. For a discussion of these and other factors, please refer to the
 risk factors described in the Company's annual report on Form 10-K for the
 year ended December 31, 2007, as well as other filings with the Securities
 and Exchange Commission. You are cautioned not to place undue reliance on
 these forward-looking statements, which speak only as of the date hereof.
 This caution is made under the safe harbor provisions of the Private
 Securities Litigation Reform Act of 1995. All forward-looking statements
 are qualified in their entirety by this cautionary statement and SGX
 undertakes no obligation to revise or update this press release to reflect
 events or circumstances after the date hereof.

SOURCE SGX Pharmaceuticals